TORONTO, August 26, 2013 - Desert Gold Ventures Inc. (TSX-V: DAU) (the "Company" or "Desert Gold") announces that it has entered into a term sheet for a short-term loan (the “Loan”) with Maxtech Ventures Inc (“Maxtech”). The principal amount of the Loan $225,000, is due on or about October 31, 2013, and bears interest at a rate of 10% per annum. The interest will be payable on October 31, 2013.
As part of the terms of the Loan, upon closing Desert Gold will make a bonus payment to Maxtech of $13,500 and 90,000 warrants (the "Warrants”). Each Warrant will entitle Maxtech to purchase one common share of the Company at a price of $0.15 per share for a period of one year from closing. The Warrants will be subject to a maximum hold period under applicable securities laws of four months and one day from their date of issue.
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda, and Senegal.
To learn more, visit our website at: www.desertgold.ca
This press release includes certain "forward-looking statements". All statements regarding the ability of the Company to delineate new resources in proposed drilling programs are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forwardlooking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include risk factors as discussed in the Company's filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements except as may be required by law.
For further information concerning Desert Gold and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com, or contact:
|Roeland van Kerckhoven,
President and CEO
Tel: 1 (604) 566-9240
Fax: 1 (604) 408-9301
Tel: 1 (416) 662-3971
Fax: 1 (604) 408-9301
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.